Mr Cooper Group Inc (COOP)

[Rumble]

I agree the judge was narrowing in on the releases during the last two hours of the hearing.

However, I have a slightly different take on that. She is looking at releases in terms of not granting releasing for those who don't receive anything in the settlement (IMHO). And while I don't really expect her to approve this, there is a possibility she could, but only with modified releases.

Incomeplete releases will kill the settlement. She won't sign off on releases for equity because they are not receiving anything. And if equity isn't forced into accepting the waivers then the FDIC and JPM won't go along with the settlement. They need to have total release of all future damages.

I think this is still touch and go, but the releases may actually be the easy way out for her.

Additionally, she often asked questions to clarify positions. If/When she declines the POR she will address every angle and leave no wiggle room for the debtors. Thus, she has to be clear on every point.